Palm Vein Scanner Market Regional Analysis:
North American Market Insights
North America industry is predicted to dominate majority revenue share of 36% by 2035. The growth of the market can be attributed majorly to the rising government initiative to secure hospital data and prevent network breaches. U.S. Department of Health and Human Services has presented a new security structure for healthcare. The department has announced to prioritize cyber security and privacy of patients in the hospitals. This initiative is likely to increase the demand for safety technology including palm vein scanners.
APAC Market Insights
The Asia Pacific palm vein scanner market is estimated to be the second largest, registering a share of about 24% by the end of 2035. The growth of the market can be attributed majorly to the rising cases of security breaches and fraudulence in the banking sector. Between June 2018 and March 2022, Indian banks reported 248 successful data breaches perpetrated by thieves and hackers. Furthermore, in 2022, the Indian government reported 11,60,000 cyber-attacks. It is expected to be three times greater than in 2019. Moreover, the expanding IT sector in the region is also expected to increase the adoption of palm veins scanner.
